Bristol university
Rajanbir Singh
Introduction
RadioShack is an American chain of wireless and electronics stores. It is owned by the Standard General Affiliate General Wireless. It is partnered with Sprint cell phones, and most stores are branded with "Sprint" though they also sell RadioShack items.
Radio Shack was Founded in 1921 and in 1999, it operated stores in the United States, Mexico, United Kingdom, Australia, and Canada. On 2015, the company filed for under United States bankruptcy law after 11 consecutive quarterly losses. By then it was operating only in the United States and Mexico. On March 31, 2015, the United States Bankruptcy Court for the Northern District of Texas approved a $160 million offer by General
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The mission statement of Radio Shack focuses on its retail business and acknowledges that the delivery of its employees is an essential part of achieving its mission. The mission statement of Radio Shack is: "Through its convenient and comfortable neighborhood stores, knowledgeable sales associates help customers get the most out of their technology products."
Issues of Radio Shack-
RadioShack management assumed in its turnaround plan that as a result of the closing of 1,100 stores, it would naturally follow that the decline in same-store sales would immediately halt.
• The stores are outdated- Almost radio shack store are outdated. They have a vintage consumer electronics store from the 1990s. They are among the most tired looking, antiquated and out of fashion stores that exist in American retailing today.
• RadioShack needs to revamp merchandise- RadioShack is mostly selling cell phones, a dangerously saturated category. They don’t have a strategy to sell many other things like internet radio or satellite phones, tablets, etc. It carries one 3D printer on its website, they should it have more and be the pioneer in this category.
• Employees are largely clueless- The most employees are clueless. They don’t have strategy to compete in the growing online market.
• The online business isn 't promising- The big online companies like Amazon has been concerned for radio shack and many other
Todd Wates, now 28 years old, has been treated for Cystic Fibrosis (CF) since he was eight years old. He currently resides with his mother Sarah, and father Anthony, in a two-bedroom apartment close to the hospital where he receives treatment.
1.3. In order to estimate the peso discount rate, assume that the International Fisher Effect (IFE) holds. Groupe Ariel's Euro hurdle rate for a project of this type was 8%. Assume that inflation rates are expected to be 7% in Mexico and 3% in France.
JB Hi-Fi is an entertainment and consumer electronics chain store, providing a range of branded home electronic products and music records. The electronic industry is experiencing growth over the last few years mainly due to the introduction of a handful of electronic gadget which captures the attention of consumer. However, this growth focused on a few products such as smart phones, tablet, and music player while the rest of the products are slowing in terms of growth.
In the past, JCP had, on average, one price campaign every day. The stores were full of sale signs and retail rise was getting out of control. JCP partnered with numerous exclusive collaborations which was hoped to bring about an expansion for the firm. However, due to the economic slump, the oversaturation of the market, and an expected lack of quality in the goods from the consumer perspective, JCPenney’s success was degrading in contrast to its competitors. (Sloan, 2010).
In a hurry to bring new products they are forced to sell off old products at discount. They are in a way cannibalizing their own products.
Just like Clas Ohlson, there are plenty of offers waiting for you to be used at “Similar Store Name”. So, whenever you are in the market looking for electronics, be sure to visit our website first.
I think that Williams-Sonoma will probably close its doors and become obsolete, if they do not change their marketing views, and incorporate a better strategic approach. I just don’t think with the way the economy is today that many people will continue to buy those types of high end products that are offered by Williams-Sonoma at many of their retail stores. Buyers are focusing on more “bang for the buck” type products. Products are now bought for more of a necessary item, rather than, the highly fashionable products. I think management of Pottery Barn, and Williams-Sonoma, should try to discuss lowering prices to go in line with today’s economic outlook. A happy medium to where they get somewhat of a profit and their consumers feel the
Sears began as a small retailer but as the years have gone by, they have become
Best Buy Co., Inc. is currently the world’s largest retailer for consumer electronics. The company has 1,400 brick and mortar stores and is a popular online retailer as well. The stores serve as display room for various online retailers. Best Buy consumers can purchase electronic products such as mobile, corded and cordless phones, televisions, cameras, personal computers, laptops, appliances and more (David & F.R., 2015). Today’s society relies on convenience and technology, forcing companies to implement new ideas and projects in an effort to maintain their ability to compete with other companies. For continued success the company must look at the internal and external issues the company may face as well as their competitors and their best practices that are contributing to their success.
Radio Shack was established by the brothers, Theodore and Milton Deutschmann in 1921. The brothers first began by opening up a ham radio shop in Boston, which then they later began to call Radio Shack. They chose the name because their radio equipment was stored in a small, wooden house which supplied ship owners with ham radios. In 2001, the company bought a building downtown Fort Worth where their headquarters has been located ever since. Radio Shack’s headquarters is in the Tandy Center office towers. Radio Shack had the approach of reaching out to people and becoming a bigger company, but failed numerous times. That led the company with the only option of having to share space with Sprint hoping to obtain better ideas of management.
Online stores are growing in popularity and drawing attention. Because of this, other retail stores are losing that attention and business. Some major stores include Sears, Radio Shack, JCPenney, Macy’s, Payless ShoeSource, Dillards and more. These are called brick-and-mortar stores. According to www.merriam-webster.com the definition of a brick-and-mortar store is, “a traditional business serving customers in a building as contrasted to an online business” (Brick-and-mortar, n.d.). “It’s possible more than 8,600 brick-and-mortar stores will close their doors in 2017 (…) JCPenney announced plans to shutter 138 stores by July, Payless ShoeSource is closing hundreds of stores, and Macy's said it's shutting down 68 locations” (Wattles, 2017). What a shame to lose these resources and businesses, especially for those who support and appreciate the local retail option.
In the past, the booming economy had allowed for year to year increase in their sales because people had larger discretionary incomes. But due to the recession, smaller independent retailers had to markdown their items in order to stay in business because designer outlet stores are getting more traffic; so will Harry Rosen follow in suit? Or in order to maintain the integrity of the quality products they offer, will they continue their higher pricing and settle for a lower market share?
The mission statement of Radio Shack focuses on the core of its retail business and acknowledges that the delivery of its employees is an essential part of achieving its mission. The mission statement of Radio shack is, “through its convenient and comfortable neighborhood stores, knowledgeable sales associates help customers get the most out of their technology products”.
Document purpose: suggestions to increase acceptance of Ogilvy & Mather’s new Vison on employees below senior executive management.
The Company has been on the path of innovation and invention. This is evidenced by their first colonization of CD-Rom controllers. This made the company acquire 50% of the market share of CD-Rom controllers. The largest opportunity for the industry is based on the fact that technology is always dynamic. In fact, it has reached a point that human lifestyle is defined by the level of advancements in technology. The most significant threat lies on the validation of the counterfeit claims. In the event that such claims are substantiated and validated, Media Tek will lose a significant market share. The risk and uncertainty in the industry emanates from the verity that wireless chipsets are manmade. It is common knowledge that man is not perfect. There is bound to be some level of imperfections in technology, which may render purchased handsets to malfunction.